JLL has arranged the sale of a two-property seniors housing portfolio in the Twin Cities, totaling 216 units across Boulder Ponds Senior Living in Lake Elmo and Round Lake Senior Living in Arden Hills, Minnesota. The communities, which were both developed as purpose-built senior living properties, serve residents in Twin Cities submarkets with a mix of care levels and housing options.
JLL’s Seniors Housing Capital Markets team represented the seller, Trident Development, in the disposition and also secured the buyer, LTC Properties, Inc. As part of the transaction structure, Lifespark will remain the operator of both communities, providing continuity of management and services for existing and future residents.
The portfolio comprises two strategically located seniors housing communities that offer independent living, assisted living and memory care services. Both assets are positioned within established Twin Cities submarkets, with access to local amenities and services that support seniors housing demand. The combination of multiple care levels within each property is designed to accommodate residents as their support needs change over time.
Boulder Ponds Senior Living is a 95-unit community in Lake Elmo, completed in 2020 and located at 192 Jade Trail N. According to JLL, the property has demonstrated strong operating performance and stability, maintaining approximately 98% occupancy. This performance profile positions Boulder Ponds as a stabilized asset within the portfolio, reflecting demand for seniors housing in its submarket.
Round Lake Senior Living, the second asset in the portfolio, is a 121-unit community in Arden Hills located at 1740 Parkshore Dr. The property opened in 2023 and benefits from convenient access to major employment centers, retail amenities and healthcare services. This location context supports both resident needs and the property’s positioning within the broader seniors housing market in the Twin Cities.
With Trident Development as the original developer, LTC Properties, Inc. as the buyer and Lifespark continuing as operator, the transaction highlights ongoing institutional interest in seniors housing communities that combine recent vintage construction, multiple levels of care and established operating performance.
